Social Security Increase 2024 Amount Chart Pdf. Relative to the size of the economy, spending for social security is projected to rise from 5.1 percent of gross domestic product (gdp) in 2024 to 6.7 percent of gdp in 2098 under the. The increase is much lower than the 8.7% cola.

That took the average monthly benefit of $1,848 at the end of 2023 up to $1,907 at the start of 2024. The maximum amount of earnings subject to the social security tax (taxable maximum) will increase to $168,600.